Chinese firm to build multifunctional port with 15M ton capacity in Kazakhstan

President Kassym-Jomart Tokayev and Chairman of the Board of Directors of Guoyou Materials Industry Group Co., Ltd., Yu Boyang, discussed prospects for win-win cooperation in port infrastructure.

The Head of State emphasized that Kazakhstan has set an ambitious goal of becoming a full-fledged Eurasian transport hub.

In this context, the President welcomed the initiative to create a multimodal port hub in Kazakhstan.

Guoyou Materials Group plans to implement the project "Construction of the Kuryk Multifunctional Port in the Mangistau region."

In the first year of the project, the company aims to bring the port's capacity to 15 million tons.

Kassym-Jomart Tokayev expressed confidence that such a large-scale project will make it possible to develop integrated maritime and rail logistics, boost the region's transport infrastructure capacity, and expand Kazakhstan's export and transit potential.

In turn, Yu Boyang briefed the Kazakh President on the project details and shared his vision for the future of shipping on the Caspian Sea.

It was also noted during the talks that creating the port hub will ensure long-term socioeconomic benefits, including employment opportunities, workforce development, and the use of Kazakh goods and services.

Earlier, it was reported that Kassym-Jomart Tokayev, President of Kazakhstan, had arrived in Shanghai, China, at the invitation of Xi Jinping, for a working visit.

On Thursday, the Head of State met top executives of China's high-tech companies.

During President Kassym-Jomart Tokayev's working visit to Shanghai, Kazakhstan and Chinese partners signed more than 70 commercial agreements worth over 15 billion US dollars.